09:44 AM EDT, 07/18/2024 (MT Newswires) -- Angel Oak Mortgage (AOMR) said Thursday it is launching an underwritten public offering of senior notes due 2029 guaranteed by Angel Oak Mortgage Operating Partnership.

The residential mortgage company said it intends to use the net proceeds of the offering for general corporate purposes, including acquiring non-qualified residential mortgage loans and other assets. Part of the funds will be used to buy back between $5.0 million and $20.0 million of its common stock from Xylem Finance, Angel Oak added.

The offering's terms will be set during pricing, Angel Oak said.

The company said it plans to list the notes on the New York Stock Exchange under the symbol "AOMN".

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